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Well the holidays can be stressful enough without worrying about losing your home or having your wages garnished so we're answering questions with Fox News legal analyst Bob -- He's working as Santa's helper today did that hinted it may well -- I.
Chris those folks buffalo -- -- everybody.
Wow Bob you are going above and beyond the call let's go right to our first email okay -- at this on sound serious he says Bob.
I filed for bankruptcy and included my Condo in the filing what's the difference between a deed in lieu of foreclosure and an actual foreclosure will the bankruptcy.
Discharge the deaths.
We don't actually have the messages were sent the sand and Santa's helpers helping matters so let me explain this -- Erica here the bottom line is this what you have a foreclosure as I've explained before it's through the launch through the courts generally speaking.
But if you do the deed in lieu of foreclosure -- June the Lander have agreed.
-- as a result of that it's voluntary between the parties.
-- -- if you -- bankruptcy and it was a discharge of bankruptcy in other words the court for gave it generally speaking you don't have to worry about a but make sure you get a bankruptcy lawyer.
-- the answers the Bob's sense here so -- -- I'm hope I'm getting -- right between his hair and the way he writes trust me I'm getting him some scissors for Chris.
And and your beard -- -- probably getting in the way if you're thinking meanwhile.
-- number two -- says Bob my mother is in a nursing home and I am her legal guardian.
She gets social security and attention -- the mortgage company garnish her retirement.
In a few weeks ago we talked about -- asset protection and asset protection is what are you what how do you protect dress -- Social Security is exempt on the national level.
401 -- your retirement are are exempt unlimited on a national level.
But I -- different type of Keogh plans you have to look from state to state to make sure that's all taking care of.
Okay next Bob I have no health insurance.
And I live in North Carolina and -- equity in my home if I get sick is my home at risk I'm sure a lot of people are and.
In this -- That has to do with the homestead law in every state has a different homestead law you have to make sure your state what's the limit of the homes that I actually looked.
From the North Pole yesterday and found not that.
You Carolina has about an 181000 -- 37000.
Homestead which means.
That would ever equity you have in your home it's protected that my -- -- take it easy over here.
You know she's been making busted -- and meatballs and the Rangers are going crazy and I just what she's Italian she's an Italian lady so just settle down over here that any -- that.
Bob -- thank you very much for all the shattered dreams I'd love your viewers.
Merry Merry Christmas and a very very happy New Year's Day.
-- FOX & Friends we love you from north Walsh -- -- -- I've been sent to tell our Leyland used to it.
Thanks for getting up and putting on all of -- year regalia.
Finally there for a -- Merry Christmas everybody Merry Christmas have a -- -- off off off.
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